
Sector Update: Tech Stocks Decline Premarket Thursday

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Technology stocks were declining premarket Thursday, with the Technology Select Sector SPDR Fund (XLK) down 0.6% and the SPDR S&P Semiconductor ETF (XSD) 0.4% lower. Cisco Systems (CSCO) stock was up more than 5% after reporting higher fiscal Q1 adjusted earnings and revenue. Bilibili (BILI) shares were down more than 3% despite higher Q3 adjusted net profit and revenue. Cellebrite DI (CLBT) stock surged over 19% after reporting Q3 non-GAAP earnings and revenue that beat market expectations.

